Denmark employment visas in 2021
Denmark benefits from with a highly transparent application system for work permits and residency visas. While the success of an application of course is never guaranteed, such transparency allows to determine relatively easily whether our Clients will be allowed to enter and work in Denmark post Danish company formation. However, migration costs are high, with Denmark’s infamously high cost of living affecting families through high housing and schooling costs compared to their home country. Moving to Denmark hence requires detailed research and engaging the assistance of a corporate services firm can be valuable.
Healy Consultants assists our Client obtains employment and residence visas from the Immigration Department of Denmark to allow them to live and work in Denmark. Healy Consultants’ fee to assist our Client obtain a work permit is €3,950. The two main types of visa associated with forming a business in Denmark are:
Self-employed work permit (entrepreneur visa)
- Entrepreneurs looking to form a company in Denmark and manage the company while living in Denmark can apply for a self-employed work permit;
- To qualify for this Denmark employment pass, there must be particular Danish business interests related to the establishment of the business: documentation must show that the applicant has sufficient funds to run the business and the presence of the applicant in Denmark must be proved vital to the establishment and day-to-day operation of the business. Shareholders who do not also act as directors are not eligible for this permit;
- If these conditions are successfully met, the application will likely be approved post Denmark business formation. The approval process takes around 3 months and the visa is valid for a period of up to 10 years (if renewed). The visa may be extended, on the condition that the eligibility criteria for entry is still being met and the visa must be extended if the company is shut down or changes considerably in nature.
Employee visas are available for individuals who wish to work in Denmark as an employee. The Denmark employment visa is split into three categories dependent on the applicant:
- Denmark Green Card
Applicants who score enough points, as determined by their age, education, language skills and work experience may obtain a Danish Green Card. This is a three-year residence permit, which allows the individual to live in Denmark and look for work, without any need for a previous job offer.
- The Positive List
Applicants who are looking for work in an occupation for which Denmark has a lack of qualified workers may obtain a work and residence permit under the Positive List scheme. The Positive List eligible occupations are listed online.
- Pay limited
Applicants are eligible for a pay-limited employment visa, on the condition that they have a job offer from a Danish employer with annual salary more than DKK375,000 (USD80,000).
Denmark corporate banking options
To receive the best Internet banking and customer service, Healy Consultants recommends our Clients to choose a top tier international bank for most corporate bank account solutions. Local banks can be used where appropriate for the Denmark business;
- Healy Consultants Compliance Team can open a corporate bank account in Denmark within 3 weeks from the date your Company is registered. Our Client may need to travel to meet the bank;
- Where possible, Healy Consultants bank account opening team will liaise with the Denmark banks to prevent our Client having to travel for an account opening interview;
- Healy Consultants assists our Client open a business bank account in Denmark (provisional) prior to company formation. Our Client deposits the paid up share capital of capital of €400 and supplies Healy Consultants with a certificate of deposit and bank statement;
- There is no limitation on the inflow or outflow of funds for remittances of profits, debt service, capital, capital gains, and returns on intellectual property or imported inputs. The Denmark currency is the Denmark Krone and is fixed to the US dollar. The exchange rate is DKK$6.9 = US$1.
- Denmark banks will provide finance to Denmark registered companies provided the following conditions are met i) good Business-plan ii) availability of security iii) experience of business owners iv) last 3 years audited financial statements v) realistic feasibility study vi) project strength and weaknesses analysis (SWOT);
- To support their new business, Healy Consultants assist Clients with trade finance tasks including i) bank guarantees ii) letters of credit iii) finance against trust receipt iv) document against payment and against acceptance;
- Securing corporate finance in the form of a loan, overdraft or simply preferential credit terms are other corporate banking related aspects of doing business in Denmark.
- Denmark is not considered as a tax haven. Denmark is not on the OECD ‘blacklist’ of tax havens (nor the FATF blacklist);
- Banks in Denmark provide the full range of corporate bank account facilities including multiple currencies, internet banking, telephone banking, checking accounts, savings accounts, debit and credit cards, and wealth management services.